TRUSTS AND FIDUCIARIES
UNIFORM FIDUCIARIES LAW
68-301. Definition of terms. In this chapter unless the context or subject-matter otherwise requires:
1. "Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking.
"Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate.
"Person" includes a corporation, partnership, or other association, or two (2) or more persons having a joint or common interest.
"Principal" includes any person to whom a fiduciary as such owes an obligation.
2. A thing is done "in good faith" within the meaning of this chapter when it is in fact done honestly, whether it be done negligently or not.
[(68-301) 1925, ch. 217, sec. 1, p. 393; I.C.A., sec. 66-301.]